PE Tech Report

Guide to setting up alternative investment funds

Mike Delano, PwC

Luxembourg has the tools to support global distribution ambitions

Luxembourg is one of the world’s leading onshore domiciles where, over the last 30 years, it has become the default option for managers wishing to establish UCITS funds. It is, by size, the world’s second largest fund centre after the US, and, from a funds expertise perspective, offers managers everything

Andrew Frost

The ‘plug and play’ fund solution

Typically there are three options for managing external money: using managed accounts, setting up a dedicated fund structure or launching a fund on a regulated fund platform. The latter is best thought of as a halfway house option and is particularly suitable to those launching with EUR10 to EUR30 million

Williams Jones, MPL Management

The ‘Anti-ManCo’ ManCo

MPL Management (Luxembourg) SA is a third-party `Super Management Company’ providing fund governance, operational support and oversight to both UCITS funds and AIFs. It is part of MPL Group, founded by William Jones in 2006, who has, over the past 26 years, helped set up more than 100 funds in

Charles Gillanders, Quintillion

Getting to grips with regulatory reporting

Regulatory reporting has become a critical component of running an alternative investment fund. This requires well-developed data sourcing and data management processes to help ensure that fund managers remain compliant.  Until a few years ago, there were no formal regulatory reporting requirements on the part of alternative investment managers. Following

Jack Seibald, Cowen Prime Services

Choosing your prime broker

When setting up as a new hedge fund manager, one of the most important relationships to establish is that of the prime broker. With banks facing regulatory pressures in the form of Basel 3, many are re-appraising their client book to ensure that they are getting a suitable return on

Peter Jakubicka, Circle Partners

Standing out from the crowd: The Netherlands

Across most EU jurisdictions, either the management company or the AIF needs to be licensed and requires some form of approval process. The Netherlands, however, is the exception to the rule. Under its light regime, neither needs to be licensed or supervised at all. This makes it a fast, efficient

Nicholas Warren, Chetcuti Cauchi Advocates

Malta: Europe’s sunshine jurisdiction

Malta hosts a wide range of service providers, all of whom are well versed in structuring and supporting alternative investment funds, fund administration, risk management and so on. According to the MFSA’s statistics for Q1 2017, Malta had 26 recognised fund administrators, 115 Category 2 investment services groups, and 153

Kavitha Ramachandra, Maitland

There’s a place for both RAIFs and SIFs

Traditionally, Luxembourg’s fund industry has always been based on the products being regulated. Both UCITS funds, and Specialised Investment Funds (SIFs) under AIFMD, work on this premise. However, the Grand Duchy was quick to realise that given AIFMD is manager regulation, it created a double layer of regulation for alternative

Wayne Atkinson, Collas Crill

Raising funds in Europe: Private placement still works

What does the future hold for the raising of funds in Europe? Wayne Atkinson (pictured) of Collas Crill, on behalf of the Guernsey Investment Fund Association, takes a closer look… With the arrival of the Alternative Investment Fund Managers Directive (AIFMD), many were quick to bemoan what they saw as the

James Williams, Hedgeweek

Setting up an AIF in Europe

By James Williams – 1. Choosing the Fund’s European Domicile: One of the hardest decisions for any start-up or established manager wishing to launch a European Alternative Investment Fund is picking the most suitable jurisdiction. Europe has multiple fund centres, including Luxembourg, Ireland, Malta and The Netherlands, each of which

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